KENT, Wash., April 29 /PRNewswire/ -- Flow International Corp. (NASDAQ: FLOW) today announced the finalization of its acquisition of the assets of Power Climber Inc. and affiliated companies. The seller- financed acquisition was completed for an undisclosed amount.
Power Climber, a $7-million provider of traction hoists and related powered scaffolding equipment, manufactures and markets its products from Los Angeles, Calif., and Antwerp, Belgium. Prior to this acquisition, Flow's Spider Climber(TM) was assembled by Power Climber.
"We're pleased to be able to add to our scaffolding product portfolio with this acquisition," said Ronald W. Tarrant, president and chief executive officer. "The Power Climber organization will be particularly helpful to us in pursuing foreign market opportunities, and solidifies our domestic source of supply for traction hoists."
Flow International Corp. is the world's leading provider of ultrahigh-pressure waterjets and related products and services for the industrial cutting, cleaning and construction services markets.
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/CONTACT: Thomas A. Cross or Steve Reichenbach of Flow International, 206-813-3286/
(FLOW)